21 December, 2020
Ethereum Review: Ethereum created a more robust blockchain to Bitcoin, allowing developers to create their own digital value and agreements through smart contracts, and now hosts most of the altcoin market.
Thus, it operates in an industry whose forecast is the development of platforms, property and futures.
Through its value proposition, the popular altcoin allows developers to design and issue their own crypto-currency. It has also proven to be a robust, reliable and revolutionary platform.
It also supports 70% of the altcoins available in the market and is decentralized.
Ethereum uses Smart Contracts so that participating parties can secure agreements between themselves.
The Ethereum virtual machine is used to control the Smart Contracts by removing any unreliable code.
By using Smart Contracts, organizations are governed by a decentralized robot rather than a single authority.
Vitalik Buterin is the popular programmer, journalist and inventor of the Ethereum platform. Buterin worked at Bitcoin magazine in the early days of cryptography but was not satisfied with Bitcoin’s inflexible code and so invented the Ethereum.
The Enterprise Ethereum Alliance is a non-profit organization composed of members from notable emerging companies, research groups and fortune 500 companies.
Parties interested in testing the Ethereum network include Microsoft, IBM and JP Morgan Chase.
The good stuff:
Ethereum has many potential real-world use cases.
The platform allows developers from a wide range of industries to build their systems on the Ethereum’s chain of blocks, and is a popular option for developers to raise capital through initial currency offerings (ICOs) as it is widely accessible to investors on popular exchanges.
The Ethereum already has notable partnerships and interest from large industries that promise greater adoption of the Ethereal network in the future.
Ethereum will begin to face competition from alternative smart contract platforms, namely the Chinese NEO platform.
As the Ethereum gains in popularity, it also faces issues of scalability to meet growing demand. If the Ethereum is not able to cope with this, it may lose its users to more advanced competition.
The Ethereum’s code has shown vulnerability in the past and has been subject to hacker attacks, resulting in a loss of public confidence.
Work plan for the future:
Plasma, is a project under development that will allow transactions to be processed outside the block chain.
Sharding, is a solution to group nodes into sections to divide the processing workload.
Casper Proof Of Stake, is a solution to help make the Ethereum Block Chain more secure.
The development of the Ethereum network is a slow process. No specific dates have been set for its completion, although work is ongoing.
The Ethereum revolutionized the crypto-currency market with its network that supports the creation of the majority of the altcoin market. Simply put, anyone who invests in an Ethereum-based altcoin is subsequently confident in the value of the Ethereum network.
This review of the Ethereum should mention the main problems that remain to be solved if you want to continue at the top of the cryptographic market. However, it has a lot of support behind it, as well as some of the brightest minds in the industry.
The Ethereum is certainly a revolution with the potential to continue changing cryptography and the world.